Scotiabank Cuts Eldorado Gold (NYSE:EGO) Price Target to $16.50

Eldorado Gold (NYSE:EGO) (TSE:ELD) had its price target lowered by equities research analysts at Scotiabank from $18.50 to $16.50 in a report released on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s price target would suggest a potential upside of 17.73% from the company’s previous close.

EGO has been the topic of a number of other reports. StockNews.com cut Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. TD Securities dropped their price objective on shares of Eldorado Gold from $20.00 to $19.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.00.

Eldorado Gold Trading Up 0.0 %

Shares of NYSE:EGO traded up $0.01 during trading on Friday, reaching $14.02. 1,433,851 shares of the company traded hands, compared to its average volume of 1,730,491. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 10.47 and a beta of 0.93. Eldorado Gold has a 52-week low of $9.72 and a 52-week high of $19.06. The company has a current ratio of 3.37, a quick ratio of 2.54 and a debt-to-equity ratio of 0.23. The business’s fifty day moving average is $15.45 and its 200-day moving average is $16.44.

Institutional Investors Weigh In On Eldorado Gold

Hedge funds and other institutional investors have recently made changes to their positions in the business. CIBC Asset Management Inc boosted its stake in shares of Eldorado Gold by 0.3% in the fourth quarter. CIBC Asset Management Inc now owns 251,844 shares of the basic materials company’s stock valued at $3,737,000 after buying an additional 804 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Eldorado Gold by 232.8% in the 3rd quarter. Blue Trust Inc. now owns 1,910 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 1,336 shares during the last quarter. Financial Management Professionals Inc. bought a new stake in shares of Eldorado Gold in the 3rd quarter worth approximately $32,000. Banque Cantonale Vaudoise bought a new stake in Eldorado Gold during the 3rd quarter valued at $36,000. Finally, Atria Wealth Solutions Inc. increased its position in shares of Eldorado Gold by 16.1% during the 4th quarter. Atria Wealth Solutions Inc. now owns 20,000 shares of the basic materials company’s stock valued at $297,000 after purchasing an additional 2,775 shares during the period. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Company Profile

Eldorado Gold Corporation, together with its subsidiaries, engages in the mining, exploration, development, and sale of mineral products primarily in Turkey, Canada, Greece, and Romania. The company primarily produces gold, as well as silver, lead, and zinc. It holds a 100% interest in the Kisladag and Efemçukuru mines located in Turkey; Lamaque complex located in Canada; and Olympias, Stratoni, Skouries, Perama Hill, and Sapes gold mines located in Greece, as well as the 80.5% interest in Certej development projects located in Romania.